Calculators

Mortgage Affordability Report

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Mortgage Budget Summary

Based on your current monthly income of $5,000.00 (after tax) and your expenses and desired savings, you have $1,650.00 remaining budget per month to be invested into mortgage.

Down Payment

$

Estimated Interest Rate

%

Estimated Property Tax

%

Estimated PMI

%

Estimated Insurance /mo

$

Monthly Salary after tax

$

Food Expense /mo

$

Transportation Expense

$

Entertainment Expense /mo

$

Education Expense /mo

$

Healthcare Expense /mo

$

Technology Expense /mo

$

Other Expense /mo

$

Savings /mo

$

Affordable Mortgage Comparison

If you spend the all of the remaining budget of $1,650.00 into financing a mortgage, with your down payment of $150,000.00, you will be able to afford the homes and mortgages below on different loan terms:

Term

Home Value

Mortgage

Loan

Tax

Ins.

PMI

Total

IR

MLM

Investment

Interest

AC

10M

$287,000.00

$137,000.00

$1,419.85

$239.17

$50.00

$57.08

$1,709.02

4.5%

120

$320,381.54

$33,381.54

10B

$287,000.00

$137,000.00

$709.93

$110.38

$23.08

$26.35

$843.39

4.5%

103

$315,193.07

$28,193.07

15M

$329,000.00

$179,000.00

$1,369.34

$274.17

$50.00

$74.58

$1,693.51

4.5%

180

$396,480.84

$67,480.84

15B

$329,000.00

$179,000.00

$684.67

$126.54

$23.08

$34.42

$834.29

4.5%

154

$385,709.45

$56,709.45

20M

$361,000.00

$211,000.00

$1,334.89

$300.83

$50.00

$87.92

$1,685.72

4.5%

240

$470,373.64

$109,373.64

20B

$361,000.00

$211,000.00

$667.45

$138.85

$23.08

$40.58

$829.37

4.5%

205

$452,521.19

$91,521.19

25M

$385,000.00

$235,000.00

$1,306.21

$320.83

$50.00

$97.92

$1,677.04

4.5%

300

$541,861.90

$156,861.90

25B

$385,000.00

$235,000.00

$653.11

$148.08

$23.08

$45.19

$824.26

4.5%

256

$515,766.28

$130,766.28

30M

$403,000.00

$253,000.00

$1,281.91

$335.83

$50.00

$105.42

$1,667.74

4.5%

360

$611,488.98

$208,488.98

30B

$403,000.00

$253,000.00

$640.96

$155.00

$23.08

$48.65

$819.04

4.5%

307

$576,238.21

$173,238.21

35M

$417,000.00

$267,000.00

$1,263.60

$347.50

$50.00

$111.25

$1,661.10

4.5%

420

$680,710.10

$263,710.10

35B

$417,000.00

$267,000.00

$631.80

$160.38

$23.08

$51.35

$815.26

4.5%

358

$635,508.91

$218,508.91

40M

$428,000.00

$278,000.00

$1,249.78

$356.67

$50.00

$115.83

$1,656.45

4.5%

480

$749,896.65

$321,896.65

40B

$428,000.00

$278,000.00

$624.89

$164.62

$23.08

$53.46

$812.58

4.5%

409

$694,090.04

$266,090.04

45M

$437,000.00

$287,000.00

$1,240.63

$364.17

$50.00

$119.58

$1,654.80

4.5%

540

$819,938.27

$382,938.27

45B

$437,000.00

$287,000.00

$620.32

$168.08

$23.08

$55.19

$811.47

4.5%

461

$752,927.16

$315,927.16

50M

$443,000.00

$293,000.00

$1,228.81

$369.17

$50.00

$122.08

$1,647.98

4.5%

600

$887,287.21

$444,287.21

50B

$443,000.00

$293,000.00

$614.41

$170.38

$23.08

$56.35

$807.87

4.5%

512

$808,958.51

$365,958.51

Report Legend

Term - Length of mortgage in years and different payment methods. (M = monthly, B = bi-weekly)

Home Value - Value of the home at purchase. (mortgage loan amount + downpayment)